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Picture above - Jeanne and Bill.
Resume
William B. Larson became Senior Vice President and Chief Financial Officer of Commercial Metals Company (CMC) (a Fortune #361 company) in April 1999. In this capacity he served as the ranking administrative officer, a member of the senior executive team, and as one of the public spokesmen (in addition to the CEO) for the company. He has had oversight for corporate accounting, treasury, tax, information technology, investor relations, SOX compliance and control monitoring, human resources and payroll, shared services, business risk management assessment, and office administration. Previous to this he served as Corporate Controller and began his career with CMC as Assistant Corporate Controller in June 1991.
CMC was a $2 billion revenue company with 8,000 employees in 1999 when Larson became CFO. Under his financial leadership it grew to a $10 billion company with over 15,000 employees at its height. In 2006 and 2007 CMC achieved record net earnings, seven times its previous high before 1999. Larson led the financial team in CMC’s successful international expansion into Poland in 2004, development of the state of the art micro mill in Arizona in 2009, as well as the successful implementation of SAP beginning in 2007 (and before that Oracle in 1998).
He has been an active attendee at Board of Director meetings and related committee meetings (Audit, Finance, Compensation, Corporate Nominating and Governance) since 1994 in his roles as Corporate Controller and Chief Financial Officer. His current and longtime focus has been on SOX compliance (no material weaknesses at CMC) and internal controls, regulatory compliance, streamlining processes through analysis and use of I.T. and tax minimization. For over a decade he has been the chief investor voice of the company. Reared in Dallas, Texas where he attended grade school through high school he enrolled at the University of Notre Dame, graduating in 1975 summa cum laude as the #1 ranked Accounting major. He immediately joined the Big Eight firm of Touche Ross (now Deloitte) with ever increasing responsibilities (CPA earned in 1977) eventually rising to audit partner in 1987 and leaving Deloitte after 16 years to join CMC in 1991.
His leadership style is best described as team captain. He allows freedom of means as long as the end goal is met, but always with the understanding that he is available at any hour on any subject for guidance under a no fault except failure to ask policy. His deep audit and accounting background has made him an excellent analyst and questioner. Larson has extensive international experience having been in charge of the Japanese practice in the Deloitte Dallas practice and serving a lead role in due diligence, integration, and ongoing monitoring of operations in Europe, Southeast Asia, and Australia with particular emphasis on Poland, Croatia, and Switzerland.
Larson has been active in charitable and educational organizations. He served on the board and was president of Catholic Charities of Dallas; a school board member of Bishop Lynch High School, St. Patrick elementary school, and the Notre Dame School of Dallas, an educational institution for the mentally handicapped. He has served on other building committees, fund raising, the Boy Scouts (an Eagle Scout himself), and organizations to promote, foster and sustain vocations to the Catholic religious life.
William B. Larson, CPA, LLC January 1, 2012 to present
Personal financial planning targeting the underserved markets of those just beginning their careers and middle income workers and retirees. Focused on the basics of budgeting and monitoring cash flows, managing debt levels, maximization of employer benefits, appropriate insurance, savings vehicles and investment alternatives, minimizing tax burdens, and retirement planning and legacy considerations. Assistance in executor administration, project consulting for small business, and other financial analysis.
SMU Certificate Program in Financial Planning Instructor - Income Taxes
Teaches monthly seminars on financial planning topics
SVP and Chief Financial Officer – Commercial Metals Company April 1999 to June 2011
CFO Emeritus June 2011 to December 2011
The senior financial officer of a $6 billion Fortune #361 recycling, steel manufacturing and fabrication and global metal marketing company with $3.6 billion in assets and over 11,000 employees in twelve countries. Larson has led the Company financially through the strongest five years of CMC operational results sandwiched in-between two global financial crises during which CMC maintained its investment grade rating, a distinction held by few metal companies. Lead negotiator / contact with Moody’s and Standard & Poors rating agencies. He was the Project Sponsor of successful implementations of tier one ERP systems initiated in 1998 (Oracle) and in 2007 (SAP). Three public debt placements were oversubscribed and timely interest rate swaps initiated. Led the implementation of SOX control environment and numerous FASB accounting pronouncements. Initiated Disclosure Committee, international (internal) audit committees, as well as “Stump the C’s” companywide conference call on issues of investor interest. CMC has never had a material weakness. Primary interface with the Audit and Finance Committees of the Board of Directors with development of analysis and commentary on financial results, regulatory requirements, liquidity and capital resources, stock performance, independent auditing results and stockholder, analyst and public relations outreach including solicitation of shareholder votes on management proposals. Led annual salary, bonus, and equity award discussions with Compensation Committee. Senior member of due diligence team leading to numerous acquisitions of recycling, fabrication, and mill assets, greenfield capital projects and acquisition of steel mills in Poland and Croatia. Supervisory Board member of Polish and Croatian companies with oversight of operations, finance, treasury, and capital expansion. Lead voice to investment community including author of quarterly press releases, presentations and Management’s Discussion and Analysis and participant in quarterly conference calls.
Assistant Corporate Controller and Corporate Controller June 1991 to April 1999
Both supervision of and lead implementer of numerous FASB accounting pronouncements. Review and analysis of monthly financial results. Point person for annual independent audit resolving technical issues, filing of quarterly and annual documents with the SEC and responding to periodic SEC review letters. Numerous field visits to domestic and international operations for quality control reviews, operational assistance, yearend audit closings and problem resolution. Initiated annual companywide Controllers meeting bringing top financial executives together for education and update on current accounting and auditing topics, sharing of best practices, segment operational presentations, and problem resolution. Led development and implementation of nonqualified employee benefit restoration plan; assisted in development and employee education of 401K qualified plan.
Partner – Touche Ross & Co. (later Deloitte) June 1987 to June 1991
Engagement partner with final responsibility for audits of public and private enterprises, technical accounting and auditing resolution, client relations, staff training and development, and practice development. Industries and practice areas include steel manufacturing, fabrication, metals recycling, marketing and distribution of metal and related products, machine tooling, plastic resin manufacturing, crude oil refining, iodine extraction, development of edible cotton seed, real estate leasing and development, property and casualty insurance, retailing, leasing, toy distribution, heavy and light truck distribution, cafeterias, religious pension and annuity organization, welfare benefit plans and others. Headed Japanese practice area in Dallas office; head of Training Committee, head of Recruiting Committee. Representation on Texas Tech Accounting Advisory Committee as well as primary responsibility for recruiting at numerous universities. Taught annual national training programs as well as local subject areas.
Manager, Supervisor, Senior, and Staff – Touche Ross & Co. June 1975 to June 1987
Progressive development of auditing experience from junior staff member to highest management ranks short of partner. Continued personal education in accounting principles, auditing techniques, selected industry accounting specialization, and regulatory requirements. Counseling of staff members, training, recruiting, and initial practice development. Consultation with clients on implementation of emerging accounting principles.
Certified Public Accountant (CPA) - 1977
CERTIFIED FINANCIAL PLANNER™, CFP® - 2013
Certificate Program in Financial Planning, Southern Methodist University September 2012
Hold Series 65 Securities License
William B. Larson, CPA, LLC is a registered investment adviser in the States of Texas and Louisiana
William B.Larson, CPA, LLC is a registered sponsor of continuing education with the Texas State Board of Public Accountancy
Bachelor of Business Administration in Accounting,
University of Notre Dame May 1975
Graduated summa cum laude, ranked #1 in Accounting department, #2 in College of Business. Received Haskins and Sells Award for Excellence in Accounting, highest award given to graduating accounting seniors. Passed all parts of CPA exam upon first sitting.
Bishop Lynch High School, Dallas,Texas May 1971
Salutatorian of class. Twice all district and all metro private football recognition (center); partial academic scholarship awarded by University of Notre Dame.
